NIFTY 50 future TRENDS-Part 2

[Smart_trade]

Starting point of a bull or bear market is never known in advance..what appear to be a very strong bull market may be starting point of bear market..vice versa..very few would have thought damn small higher target of 5800 when market hit 5460....now we are at 6100 sure no one would think of even 5900 ..and that is the trick...

Agreed , starting point of a bull or bear market is not known in advance. At 5460 no one would have thought of 5800 but at 5550 it was confirmed that the trend of the market is now up. So buying at 5550 was a correct thing to do. Many must have predicted the top around 5800,5900,6000 and even 6100 now and lost an opportunity of going long and making money. Similarly in downtrend people bought at 5900,5700,5500....to see 5460 on the screen

Market can reverse and can go to 5800,5500 or even 5200 but it wont go there in one go and without our coming to know. The downtrend will be detected at 6050 or 6000 and one can ride the downtrend to whatever level market takes us.

Double top and weekly resistance levels are very valid points by you but market must show weakness and signs of reversal of trend at those levels. More money is lost in the markets by trying to catch the top/bottom than all other reasons combined.

But different viewpoints and different thinking and that is why the market exists. I dont insist that my view is the only right view and all other views are wrong. Each to his own...

Wishing you well for your trade.

Smart_trade

 

[sudoku1]

Leave aside who is best & who is worst...jst luk d bank ledgers & see urself..if d ledgr is showing at least 20 % return in trading on annual basis..u & ur strategy r best among so many in d world ..rest ..all d hype & hoopla on TA is jst GHOST PROTOCOL

 

[SEVEN STAR]

Double top and weekly resistance levels are very valid points by you but market must show weakness and signs of reversal of trend at those levels. More money is lost in the markets by trying to catch the top/bottom than all other reasons combined.

Yes..ST...On a short term trading note 40 points risk on closing..at a technically res..point was the only reason for my trade.
40 point what i can offered to risk..(short term trade)..
let us see how it play out from Monday through next week......

 

[SEVEN STAR]

thehindubusinessline. view
Nifty (6,107.2)

The Nifty performed slightly better than the Sensex, reaching its previous peak at 6,112. Our short-term target at 6,112 was achieved by the index last week. As we have been reiterating, this is a critical level from a medium-term perspective. Strong break above this level can take the index to 6,336 or even 6,814 over the months ahead.

On the other hand, reversal from current levels will open the possibility of the index declining to 5,600 or 5,450 in the months ahead.

Short-term supports for the index are at 6,020 and then at 5,962. Short term traders can play long as long as the first support holds. Short-term outlook will turn adverse only if the index goes on to close below 5,870.

Short term targets on break above 6,100 are 6,181 and 6,336.

 

[trade4joisar]

Agreed , starting point of a bull or bear market is not known in advance. At 5460 no one would have thought of 5800 but at 5550 it was confirmed that the trend of the market is now up. So buying at 5550 was a correct thing to do. Many must have predicted the top around 5800,5900,6000 and even 6100 now and lost an opportunity of going long and making money. Similarly in downtrend people bought at 5900,5700,5500....to see 5460 on the screen

Market can reverse and can go to 5800,5500 or even 5200 but it wont go there in one go and without our coming to know. The downtrend will be detected at 6050 or 6000 and one can ride the downtrend to whatever level market takes us.

Double top and weekly resistance levels are very valid points by you but market must show weakness and signs of reversal of trend at those levels. More money is lost in the markets by trying to catch the top/bottom than all other reasons combined.

But different viewpoints and different thinking and that is why the market exists. I dont insist that my view is the only right view and all other views are wrong. Each to his own...

Wishing you well for your trade.

Smart_trade

Hello ST,

Can you please show this with chart?

It will be really helpful to us (at least me) on long term view.

 

[Smart_trade]

Hello ST,

Can you please show this with chart?

It will be really helpful to us (at least me) on long term view.

Sure...will post a chart in my " day/swing trading ideas " thread in the evening.

ST

 

[EagleOne]

.....deleted.........

 

[rohitsx]

Egos and trading do not mix. The little voice inside your head that tells you what the
market is going to do next needs to be gagged whilst trading. Whilst you are listening to him , you are not paying attention to what the market is revealing to you. Focus on your charts, your indicators if you use them and the price action. Look at this information and trade what you see, not what you think.
-Tim Baldwin,Legendary pit trader.

 

[Raghuveer]

May NF VWAP at 9:30 = 6089
Fib levels for today:
Res: 6149 6130 6112 6098
Sup: 6080 6066 6048 6029

 

[SEVEN STAR]

special trading session high 6114...i entered short trade..today..keeping sl at 6144..expecting to retrace 6040..5980...before moving up..
what i predict for next week...

expecting to retrace 6040............hit target No..1